Buffett Looks to Large Investments in India

During his first visit to India, Warren Buffett said Tuesday that he plans on making more investments in the country, the Eurasia Review reported Wednesday.

Buffett was joined on his visit by Bill Gates as the two philanthropists who are listed as the second and third wealthiest men in the world by Forbes toured the country.

Buffest told reporters in New Delhi that the United States would benefit from the economic rise of India and China. Buffet’s Berkshire Hathaway recently made an initial foray into India’s insurance market.

He said he was looking forward to making more large investments in the country.

Berkshire Hathaway made an entry into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General. India currently allows only 26 percent foreign investments in insurance businesses. However, officials in the country are considering increasing that threshold to 49 per cent.